Adipic Acid Market

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Adipic Acid MARKET 2020
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Adipic Acid MARKET 2020
Adipic Acid Market 2020 Industry Survey,
Growth, CompetitiveLandscape and Forecasts to
2023
The reaction between cyclohexanol and
cyclohexanone can synthesize adipic acid. It is
one of the prominent types of aliphatic
dicarboxylic acids due to their significant usage
as a feedstock in the manufacturing of industrial
fibers. They possess excellent properties such as
superior durability, extreme weather performance,
and chemical resistant which make them suitable
for the utilization in numerous ends use
industries such as automotive, textile, packaging
consumer goods, electrical electronics,
building construction, and others. Some of the
prominent factors that positively influence the
growth of the adipic acid market are growing
demand for domestic appliances, increasing per
capita disposable income, and increasing
consumption of adipic acid in packaging
consumer goods. Additionally, booming building
construction industry and increasing usage of
plastic products in commercial, as well as
residential sector are estimated to drive the
demand for adipic acid over the forecast period.
Furthermore, increasing demand for lightweight
automobile parts along with rising automotive
production and sales in developing countries is
estimated to drive the demand for adipic acid
over the forecast period. However, fluctuating
crude oil price has strong influence on the
synthetically raw material price which is likely
to hinder the growth of the market.
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Adipic Acid MARKET 2020
Market Segmentation The global adipic acid
market is classified on the basis of application,
end-use industries, and region. On the basis of
application, the market is classified into
polyurethane, nylon 6,6 fiber, nylon 6,6 resin,
adipate esters, and others. Among these, nylon
6,6 fiber accounted for the largest market share
in 2015 and is predicted to retain their
dominance over the forecast period due to
increasing usage in automotive industry.
Moreover, it is used as a flavoring and gelling
agent in food industry. Continuous growth of food
beverage industry on account of changing food
habits combined with expanding population is
estimated to rise the market growth over the
assessment period. On the basis of end-use
industries, the market is categorized into
automotive, electrical electronics, packaging
consumer goods, building construction, textile,
and others. Others end-use industries include
food, medical, and furniture. Among the end use
industries segment, automotive is expected to
witness significant growth due to increasing
automotive production and sales in developed and
developing countries. Packaging and consumer
goods segment are predicted to witness healthy
growth due to increasing demand for household
appliances along with increasing disposable
income. Enquiry of the Report
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Adipic Acid MARKET 2020
Regional Analysis
The Asia Pacific is predicted to dominate the
adipic market followed by Europe and North
America due to increasing demand from automotive,
electrical electronics, and consumer goods.
Various countries of the Asia Pacific such as
Japan, Thailand, India, China, Vietnam, Malaysia,
and South Korea are the fastest growing adipic
acid market across the globe and is expected to
grow with the same pace over the forecast period.
Some of the factors that are attributed to the
growth of the market in the Asia Pacific are
increasing middle-class population, rising number
of working professionals, competitive production
costs, and ease in availability of raw material.
European adipic acid market is estimated to
witness steady growth on account of significant
demand from automobile manufacturers. North
America adipic acid market is predicted to
witness a steady growth since the U.S, and Canada
is the major contributors on account of growing
textile and healthcare sector along with
increasing maintenance of building construction
activities.
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om/reports/adipic-acid-market-5479
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Adipic Acid MARKET 2020
Application Major Players in this Research
Adipic Acid Market Prominent Players The major
players operating in the adipic acid market are
INVISTA (U.S.), PetroChina Company Limited
(China), Asahi Kasei Corporation (Japan), Ascend
Performance Materials (U.S.), BASF SE (Germany),
LANXESS (Germany), Radici Partecipazioni SpA
(Italy), Solvay S.A. (Belgium), Sumitomo Chemical
Co., Ltd. (Japan), BioAmber Inc (U.S.), Shandong
Hongye Chemical Company, Ltd. (China) among
others.
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